The reports confirmed on Wednesday the royal family’s income is to receive a boost of more than £45 million . Soaring profits from the Crown Estate to £1.1 billion mean the taxpayer-funded Sovereign Grant, which supports the official duties of the royal family, will increase from £86.
3m in 2024/2025 to £132m in 2025/2026. Officials said the increase will be used to help fund the final stages of the 10-year £369m renovation of Buckingham Palace. READ MORE: Keir Starmer faces first PMQs amid suspension row Campaign group Republic have said the Sovereign Grant is rocketing up at an “astronomical” rate but is only a small part of the “appalling” cost of the monarchy.
Republic say the royals are estimated to cost UK taxpayers more than £345m a year. The organisation’s CEO Graham Smith said: “Add the profits of the two Duchies, which are state assets, the bloated security bill and costs met by local councils around the country and the total bill is huge. “People rightly complain about the cost of the Rwanda scheme over the last two and a half years, yet we have spent more over the same period on the royals.
More than £345m a year to provide us with just one head of state. (Image: PA) “By comparison the Irish president costs around 4m euros, a fraction of the cost for someone doing a similar job, but someone elected and accountable to do it. “We do not owe the royals a living, we do not owe them palatial homes, private helicopter travel or lives of leisure.